Banking Crisis: Ho-Hum

        As a long time member of the human race, the Mayor has been witness to more than a few financial crises.  Real estate bubbles, asset bubbles, savings & loan failures, inflation, stagflation, bank runs, Greenspan, Dodd-Frank, trickle down theory, creation of the Euro, central banks, regional banks, bailouts, and on and on and on. Ho hum. 

      Of late, the citizenry has been witness to 'another' bank 'failure' and its rescue by the gov'mint. SVB, or Silicon Valley Bank(great name, probably came from a web site purchase in '82), was taken over by F.D.I.C., or U.S. Bank Rescue Arm of the White House/Congress to avoid the fallout of little depositors being photographed in waiting lines ala the Great Depression. Too scary; too Much. So, our benevolent politicians do what "they" believe will sell well in the media/press. "Look, Mom, the gov'mint is saving us from another disaster today. Oh, joy, Johnny, we're saved. We won't have to stand in a bread line, again."

      The banking gamblers got caught, again, doing what comes naturally to bankers: taking on excessive risk with other peoples(depositors) money. Only in this instance, the money wasn't from George and Betty, but from tech startups and their investors looking for a big payday when the startup goes public and the shareholders cash in/ cash out. That's the real story: Congress bailed out their friends, again.

    Ho hum.And then: a Swiss banking crisis-again. UBS(United Bank of Switzerland) will absorb Credit Suisse, the other financial nightmare of Europe. One has to laugh about the Swiss and their "banking": really their "banking" is MONEY Laundering under a different name. Swiss bankers are really money launderers. Seems the Credit Swiss launderers could not save themselves for all their ineptitude. Try as they might, nothing could fix its broken finances. The end result: adios to another Swiss institution(money laundering operation.). Now the miniature country's population will collectively look in the mirror, again, and ask, "Where did we go wrong?" The Swiss franc will soften some against the dollar/Yen/yuan, but with all those gold bars under the streets of Zurich, it won't soften much. Thanks, again, for saving the world.